ALL - This will probably be my last post here, so I wish to share a few things in parting.
Firstly, and to put all the rest of my comments into proper perspective, I have now sold all of my shares in SEXI at substantial losses. I or "we" (for any of you who wish to add yourselves to my statements from here on out, be my guest!), we are the Bigger Fools! I don't feel that any more or "Bigger" are coming. And for that matter, I'd be ashamed if we didn't warn them away ourselves (as has actually been done in the last few days)!
I won't say that I deserve to lose (no one deserves to be conned!), but I broke just about EVERY rule that I have for Speculative Investments! I MADE THOSE RULES TO PROTECT MYSELF FROM MAJOR LOSSES! So, I had every reason to expect this, and NO JUSTIFIABLE REASON TO BE SURPRISED! I am truly ashamed to have been so foolish! I failed to cash out when I had more than a 550% overall profit! Greed! I violated my rule "No more than 10% of the Speculative Portfolio in any one company!" And absolutely the worst of all, I FELL IN LOVE with this SEXI company and would not listen openly to the warnings of other experienced investors and the obvious signs of grandiose and unlikely expectations - deaf to all except what I WANTED TO HEAR!
My final hope was that the SEC would not "name" SEI in their complaints and actions. That somehow, only the "Bad People" would be charged, and a "Good Company" would be left to attempt recovery. When the SEC did "name" SEI, it was the last straw for me!
I have now lost all faith in this company. Not that there may not be a product. Not that there are not some good and qualified engineers and technicians in the company. But because this company is without leadership and management capacities to resolve the problems at hand, even if the company can survive the SEC and Justice Department investigations. No, as far as I am concerned, I should have bailed out completely when they fired the ONLY TWO PEOPLE IN THE COMPANY THAT HAD ANY KNOWLEDGE AND EXPERIENCE IN THE VIDEOCONFERENCING INDUSTRY!
SEXI did NOT bring in Dick Yoder and Fred Raumer! There were inherited from ICMX! They had been hired by ICMX well before the merger with SEXI to provide the experience and expertise to REALLY develop the product from the POTENTIAL that it had, and to MARKET the product as it was ENVISIONED it could become! When the only two people in the company with extensive knowledge of the industry were fired (without explanations or replacements), every investor here should have been smart enough to QUIT! I wish that I had!
I FEEL THAT WHEN ALL THE FACTS ARE KNOWN, MANY POSTERS ON THESE THREADS WILL FIND THAT THEY OWE YODER AND RAUMER APOLOGIES! There were no large number of shares to them listed in the S-8's. They were not (apparently) among those profiting from the Big Lie! IMO they were probably the first to be removed, because they were the ONLY ones that could really recognize and blow the whistle on the Big Lie! MY PRIMARY QUESTION HAS BEEN AND REMAINS, "WHO IS RUNNING THIS COMPANY, AND WHAT DO THEY KNOW ABOUT THE VIDEOCONFERENCEING INDUSTRY?"
Charles certainly didn't and quite obviously lied to us - he is gone! Maria lied to us - she is gone! SGA lied to us - they are gone! OTC lied to us - they are gone! Ken Walther SIGNED THE 10KSB, THE 10Q, AND ALL OF THE S-8's, and now, he is gone along with his Laser Tek company! Dr. Thornthwaite is gone along with his DNAnalyser! SEI has a new "Interim Board of Directors", CEO, and President that are all (so I hear) ex-CIA (an organization, by its very nature, not even expected to tell the truth to the public!). You know, at first, I thought that CIA ties would help to assure many government contacts, but now, my conclusion is that that can not outweigh the fact that they know nothing about the videoconferenceing business!.
Also ask yourself, "Who could have appointed these new Board Members and Officers?", without calling a Shareholders Meeting? I have never heard of any set of By-Laws that would give that power to an Officer or Officers. Who does that leave to have made such appointments - legal or not? Whose interests might these people represent? And WHAT DO THEY KNOW ABOUT THE VIDEOCONFERENCING INDUSTRY?
If this company were to ever have a chance to recover, at all, which I now doubt, totally, it would, of course need to complete the development of a viable product, manufacture it, and market it sufficiently to make a profit. In my opinion, that bottom line is entirely dependent on the company's ability to either re-hire Yoder and Raumer or replace them with new executives with an equal or higher caliber of expertise, experience and contracts within the industry! ALL, MOST UNLIKELY! Who would want to come into such a mess?
Sorry for going on so long on one point, but I feel it to be the primary concern. And, of course, all of my comments are just my opinion, with many "facts" and "rumors" yet to be discovered and/or proven.
On a much more positive note, I have certainly enjoyed "meeting" so many "interesting" personalities by participating on these threads. Well over 250 "persons" have participated in the 20 SEXI threads. And if my cumulative calculations are correct, this is posting #10,000! We have probably set a record on SI that may never be surpassed!
Mind you, that if I had it all to do over again, I probably would not have become a "poster"! I'd probably just remain a "Lurker"! My postings (and rediscovering my personal pleasure from creatively writing) probably contributed to my lose of objectivity in the persona of SEDONA ORACLE. But I have made some new friends here that I hopefully anticipate sharing with for a long time to come, and have met others here that I feel I would enjoy getting to know better! Too bad we never made it to a gathering, Shareholders' Meeting or otherwise. Even without actually meeting in person, we have been a fascinating "melting pot" of diversity! And I believe that I have learned a great deal about human nature and the beauty and sanctity of the humanity within us all - shining through us all - and through all of our high hopes, enthusiasm, and expectations as well as our shared pain, agony, and grief.
This certainly will not be an experience soon forgotten - nor should any of us lose sight of the Truths we have seen and the wonderful opportunities we have been given for our own personal growth. We may have lost some of our money, but hopefully we have each gained some insight into ourselves.
Every day I thank God for living in Paradise and for the opportunities to Learn, and Share, and Grow Spiritually, and Play. Time to play more!
Good-bye from SEDONA John, and Blessing to one and all,
John Stetenfeld
PS - SEXI (the Book) has been started, but I am unsure of its future! |
